Constantia Flexibles Changes Ownership
01.08.2023 - Wendel, one of Europe's leading listed investment firms, has signed an agreement to sell its portfolio company Constantia Flexibles to an affiliate of One Rock Capital Partners. With 60.8% of the share capital, Wendel is the majority shareholder of the company, which develops flexible packaging solutions for a diversified portfolio of customers in the consumer and pharmaceutical industries. The purchase price is expected to generate net proceeds of approximately €1.1 billion for Wendel.
Wendel acquired a 73% stake in Constantia Flexibles for €640 million at the end of March 2015 and sold a minority stake of around 11% for €101 million six months later to Maxburg Capital Partners (MCP), an investment company backed by the RAG Foundation. In 2017, Constantia Flexibles sold its label business to Multi-Color Corporation. This value-enhancing transaction, together with a capital increase, provided the company with resources to support its growth strategy in the flexible packaging market. Constantia Flexibles is a leader in segments such as confectionery films, die-cut lids, aluminium container systems, and pharmaceutical films.
The transaction is expected to close in the second half of 2023, subject to closing conditions, including regulatory approvals.
Contact
Constantia Flexibles Group GmbH
Rivergate, Handelskai 92
1200 Wien
Austria
+43 1 888 5640
